Mutual of Omaha
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| Mutual of Omaha Insurance Company | |||||||||
 | |||||||||
| Address | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Address: | Mutual of Omaha Plaza | ||||||||
| City: | Omaha, NE 68175 | ||||||||
| Close to: | 33rd and Dodge | ||||||||
| Metro area: | Midtown | ||||||||
| Information | |||||||||
| Industry: | Insurance | ||||||||
| Type: | Mutual insurance | ||||||||
| Headquarters: | Omaha | ||||||||
| Founded in: | Omaha in 1909 | ||||||||
| Revenue: | $4.2 billion (2006) | ||||||||
| # employees: | 4,200 (July, 2007) | ||||||||
| Phone: | (402) 342-7600 | ||||||||
| Website | |||||||||
| www.mutualofomaha.com | |||||||||
Mutual of Omaha, best known for sponsoring the popular television show Wild Kingdom, is a Fortune 500 insurance and financial services company headquartered in Omaha. In 1909, the company began as Mutual Benefit Health and Accident Association selling comprehensive medical coverages to minimize individual's liability in the event of an accident or illness.[1]
Throughout the years, the company grew from a small regional insurer to a large national financial services organization that offers a broad portfolio of individual and group products.[2] In 1962, the company changed its name from Mutual Benefit Health and Accident Association to Mutual of Omaha.
Recently, the company ventured into other arenas by exploring new lines of business including Continuum Worldwide,[3] an operational management services and consulting organization, and Omaha Financial Holdings, Inc., the company’s banking operation holding company.[4]
Today, Mutual of Omaha provides insurance and financial products for individuals, businesses and groups throughout the United States. In the individual market, Mutual offers life, Medicare supplement, long-term care and disability insurance as well as annuities. The company also offers employee benefits including life, disability, accidental death and dismemberment and retirement plans.
Contents |
[edit] History
- 1909 (March 5) – Mutual Benefit Health and Accident Association filed articles of incorporation with the Nebraska Insurance Department
- 1924 – Mutual of Omaha ranked 8th in comparison to other insurance companies
- 1926 – The subsidiary, United Benefit Life Insurance Company, was founded
- 1941 – The company founded its Group Insurance department
- 1962 – Mutual Benefit Health & Accident Association changed its name to Mutual of Omaha Insurance Company
- 1963 – Mutual of Omaha’s Wild Kingdom aired on network television for the first time. The original show ran until 1988
- 1981 – United Benefit Life Insurance Company became United of Omaha
- 2001 – The company revitalized its brand and began sponsoring USA Swimming
- 2002 – A new Wild Kingdom series premiered on Animal Planet
- 2006 – Continuum Worldwide (formerly OISC) was created
- 2006 – Omaha Financial Holdings, Inc. was created as the parent company of Mutual of Omaha’s banking initiatives[5]
[edit] Wild Kingdom
In 1963, Mutual of Omaha introduced the wildlife television program, Mutual of Omaha's Wild Kingdom. The original show ran from 1963 to 1988. The show was revitalized in 2002 with a new series on the cable television network Animal Planet. Mutual of Omaha has recognized the importance of this program as many of the people who grew up with the original series still recognize the company as being associated with the program.
[edit] Medicare
Mutual of Omaha entered the Medicare program in 1966 as a Medicare Part A Intermediary. In 2005 Mutual of Omaha and Wisconsin Physicians Service (WPS), an insurance corporation based in Madison, Wisconsin, announced a partnership agreement for future Medicare contracts. Under this agreement WPS will effectively purchase Mutual of Omaha's Medicare Part A business for an undisclosed sum. The transition is anticipated to be complete by the end of 2007.[6]
[edit] Subsidiaries
Mutual of Omaha has multiple subsidiaries including:
[edit] United of Omaha Life Insurance Company
Founded in 1926, this company provides life insurance, pension and annuity products for groups and individuals. [7]
[edit] Companion Life Insurance Company
Founded in 1949, this company provides life insurance and annuity products for groups and individuals in New York. [8]
[edit] United World Life Insurance Company
Through direct marketing and independent agent networks, this company has offered health and accident coverage and specialty life plans since 1983. [9]
[edit] Mutual of Omaha Investor Services, Inc.
Mutual funds are offered to individuals through the company’s agents and Retirement Plans brokers. [10]
[edit] Continuum Worldwide
Continuum Worldwide was started in 2006 and specializes in operational risk management consulting. Continuum’s services include enterprise security solutions, investigative and compliance solutions, business partner assurance, identity and access management, and IT infrastruction solutions.
[edit] Omaha Financial Holdings, Inc.
Omaha Financial Holdings, Inc. is a holding company for Mutual of Omaha’s banking operations. The subsidiary’s CEO is Jeff Schmid.[11] Since its formation, it has acquired the following banks: Nebraska State Bank in Omaha, Neb; Security Federal Bank of Lincoln, Neb.; and Colorado-based Peak National Bank.[12]
[edit] Company Governance
[edit] President of Mutual
| 1909–1932 | Harry S. Weller |
| 1932–1949 | Dr. C.C. Criss |
| 1949–19?? | V.J. Skutt |
| 2003–2005 | Dan Neary |
[edit] Chief executive officer of Mutual
| 1964–19?? | V.J. Skutt |
| 1984–1996 | Thomas Skutt |
| 1998–2005 | John Weekly |
| 2005–present | Dan Neary |
[edit] Chairman of the board of Mutual
| 1949–1953 | Dr. C.C. Criss |
| 1953–19?? | V.J. Skutt |
| 1986–1996 | Thomas Skutt |
| 1998–2005 | John Weekly |
| 2005–present | Dan Neary |
[edit] Notes
- ↑ http://www.mutualofomaha.com/about/history.html
- ↑ http://www.mutualofomaha.com/about/organization/index.html
- ↑ http://www.sdbmagazine.com/news/news.asp?ID=8100
- ↑ http://www.mutualofomaha.com/about/press/banking/20070124.html
- ↑ http://www.mutualofomaha.com/about/history.html
- ↑ http://www.mutualmedicare.com/news/20050425_03.html
- ↑ http://www.mutualofomaha.com/about/organization/affiliates/index.html
- ↑ http://www.mutualofomaha.com/about/organization/affiliates/index.html
- ↑ http://www.mutualofomaha.com/about/organization/affiliates/index.html
- ↑ http://www.mutualofomaha.com/about/organization/affiliates/index.html
- ↑ http://www.mutualofomaha.com/about/press/management/20070124.html
- ↑ http://www.kptm.com/news/local/8248057.html
[edit] External Links
 | This article uses content from Wikipedia. The original article was at Mutual_of_Omaha. The list of authors can be seen in the page history. As with this wiki, the text of Wikipedia is available under the GNU Free Documentation License. |
